Bill: A business that holds more than 50% of the market and rolls in more than NIS 100 million a year - Monopoly | Israel today

Next Sunday, MK Eli Cohen will place a bill on the Knesset table, which will set criteria for defining a business entity as a monopoly.

This bill will oblige the Competition Authority to define as monopolies all entities that hold more than 50% of the market share, and that their annual sales turnover exceeds NIS 100 million.

The purpose of the bill is to increase enforcement on these bodies and prevent them from abusing their power.

The wording of the proposal states that the number of monopolies in the country, their disproportionate power and the insufficient enforcement against them - are among the main reasons for the high cost of living in Israel.

The Antitrust Authority is designed to protect the public from monopolies;

Defining a business entity that harms competition as a monopoly makes it possible to use supervisory and enforcement tools against it.

However, according to the bill, these assumptions raise difficult questions regarding the supervision of entities that actually act as monopolies, but are not defined as such: who knows that these are monopolies, and how does the lack of enforcement affect competing entities and consumers?

"Monopolies, and especially exclusive importers, are a major factor in the cost of living," MK Cohen, former economy minister, told Israel Today.

This includes, among other things, most exclusive importers.

The bill is intended to correct the distortion and oblige the Competition Authority to define these bodies as monopolies.

The definition of monopoly will not be divided by industry and will include every network, manufacturer, manufacturer and more. "

According to MK Cohen, "there is a very high chance that the law will be passed.

It is not a matter of right and left.

"If the law is not passed, it means that the government is making fun of the war on the cost of living."

A body that is declared a monopoly finds itself under the watchful eye of the Competition Authority: the prices of its products are monitored, and it is subject to various restrictions.

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